Senior Brazilian Financial Regulator Appointed to the IASB
The International Accounting Standards Committee (IASC) Foundation has appointed Amaro Luiz de Oliveira Gomes to the International Accounting Standards Board (IASB). Gomes, who is currently head of Financial System Regulation Department of the Central Bank of Brazil (CBB), will join the IASB as a full-time member on 1 July 2009 for a five-year term. In advance of joining the IASB, he will resign from his position at the CBB.
As a senior official at the CBB, Gomes has played a leading role in the adoption of International Financial Reporting Standards (IFRSs) in Brazil and oversaw the introduction of IFRSs for regulated financial institutions. He has also served as a member of the two bodies playing the leading role in introducing IFRSs into Brazil: the Brazilian Comitê de Pronunciamentos Contábeis (CPC) and the Steering Committee for Accounting Convergence–Brazil (Comitê Gestor da Convergência no Brasil) created by the Brazilian Federal Accounting Council (Conselho Federal de Contabilidade).
In his career as a financial system regulator, Gomes has been directly involved in the convergence of Brazilian prudential regulation with international standards and best practices, such as the implementation of the 25 Core Principles for Effective Banking Supervision and Basel II. In this role, he has participated in several regulation and policy forums, including the Policy Development Group (PDG) of the Basel Committee on Banking Supervision, representing the Association of Supervisors of Banks of the Americas (ASBA).